Paragon Payment Solutions

What Paragon Payment Solutions does

Paragon Payment Solutions is an integrated payments provider that has operated since 1994 under the legal entity Blue Parasol Group, LLC, headquartered at 2141 East Broadway Rd., Suite 202, Tempe, Arizona. The company focuses exclusively on serving Independent Software Vendors (ISVs) and software providers through a B2B2B channel model, enabling them to embed payment processing into their applications. Since its acquisition by Paya (NASDAQ: PAYA), Paragon operates as a privately-held subsidiary within a publicly-traded payment technology company, functioning as an ISO/SP (Independent Sales Organization/Sales Agent) of Westamerica Bankcorporation and Chesapeake Bank, which provide the bank sponsorship and regulatory oversight required to offer merchant accounts.

The company's technology foundation is the proprietary PURE Processing Platform, built on a Service Oriented Architecture (SOA) that supports both SOAP and RESTful APIs and is engineered to allow new features to be deployed without requiring code changes at partner sites. The platform is PCI DSS Level 1 certified — the highest tier for service providers, validated through annual on-site QSA audits and quarterly network scans — and powers a suite of branded product modules: PUREfac (managed payment facilitation), PUREcloud (cloud-based POS device management built on Verifone Engage hardware), PURE Tokenization with Card Account Updater, PURE P2PE (point-to-point encryption), Hosted Payments, PURE Mobile SDK for iOS/Android, Apple Pay and Google Pay wallet acceptance, Frictionless Merchant Boarding, PUREsight (reporting and virtual terminal), PURE ACH/eCheck, and EMV chip-card acceptance.

Paragon monetizes primarily through transaction-based fees on payment volume processed through the PURE platform, supplemented by residual revenue sharing with ISV partners, subscription-based gateway connectivity services, and a multi-tier partnership program structure (Referral Partner, ISO, Managed PayFac, and full PayFac). Pricing is quote-based and not publicly disclosed, and the company's stated footprint is the United States and Canada. Leadership includes CEO Roy Bricker, President and CMO Brock Robertson (also a board member), CFO Kevin Gates, and VPs Gregg Cannella (finance) and Dave O'Brien.

Name

Paragon Payment Solutions

Legal name

Blue Parasol Group, LLC, d/b/a Paragon Payment Solutions

Website

https://paragonsolutions.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Paragon Payment Solutions is an integrated payments provider serving Independent Software Vendors (ISVs) and merchants through its proprietary PURE Processing Platform, operating as a privately-held subsidiary of Paya (NASDAQ: PAYA) with ISO sponsorship from Westamerica Bankcorporation and Chesapeake Bank.

Ownership category

akta.pro rank

Product category

Integrated Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD)

akta.pro secondary industries

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Smart Routing, Cascading & Payment Optimization (FSAMACAJ)

Keywords

• Integrated payment processing
• Payment facilitation
• ISV payments
• Payment technology platform
• Embedded payments

Headquarters

HQ city

Tempe

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Processing Fees: Paragon earns transaction fees on every payment processed through its platform. The platform supports credit card, debit card, ACH/eCheck, and mobile wallet (Apple Pay, Google Pay) transactions for merchants. Fees are collected from merchants at the transaction level.
2. Residual Revenue Streams from ISV Partners: ISV partners earn residual income from merchant transaction profits, with Paragon sharing revenue from the merchant portfolio. The company describes these as 'lucrative residual streams' and 'lucrative revenue streams' that help fund partner growth.
3. Gateway Services (Front-End Connectivity): Paragon offers gateway-only services where it passes transactions to any payment processor on the market, allowing merchants to use Paragon's PCI-compliant technology while maintaining their existing payment processor relationship for settlement.
4. Partnership Program Fees: Paragon offers multiple partnership tiers including Referral Partner, ISO Programs, Managed Payment Facilitator (PUREfac), and full Payment Facilitator programs. Revenue is generated through the processing activity of merchants onboarded under each program structure.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Paragon Payment Solutions provides integrated payment processing technology for Independent Software Vendors (ISVs) and software providers, enabling them to embed payment acceptance into their applications. The company offers a proprietary processing platform (PURE) with solutions spanning payment facilitation, cloud payments, tokenization, point-to-point encryption, mobile SDKs, and merchant boarding services.

Product overview

Paragon Payment Solutions offers a unified integrated payments platform built around the PURE Processing Platform, designed specifically for independent software vendors (ISVs) and their merchant customers. The portfolio is organized as a core platform (the PURE Processing Platform) supplemented by a comprehensive suite of branded product modules. Key products include PUREfac Managed Payment Facilitation (a managed payfac program for white-labeled payments), PUREcloud (cloud-powered POS with Verifone Engage hardware), PURE Tokenization with Card Account Updater, PURE P2PE (point-to-point encryption), Hosted Payments Page, PURE Mobile SDK (iOS/Android), Mobile Wallets (Apple Pay & Google Pay), Frictionless Merchant Boarding, PUREsight (reporting and virtual terminal), and PURE ACH (eCheck/ACH payments). The architecture is designed so that individual modules can be added to an existing integration, and applications using P2PE, Hosted Payments, or PUREcloud are taken out of PCI compliance scope. The company also provides multiple partnership program structures (Referral, ISO, Managed PayFac, PayFac) to monetize payment processing.

Differentiator

Problem solved

Functional benefit

Brands

• PUREfac: Managed Payment Facilitation program for ISVs
• PUREcloud
• PURE Tokenization
• PURE P2PE
• PUREsight
• PURE ACH

Products and services

• PUREfac Managed Payment Facilitation
• PUREcloud
• PURE Tokenization
• PURE P2PE
• Hosted Payments Page A hosted checkout page that lets merchants accept payments without handling card data on their own systems, simplifying PCI compliance and integration.
• PURE Mobile SDK
• Mobile Wallets (Apple Pay & Google Pay) Support for tokenized mobile wallet payments from Apple Pay and Google Pay, allowing merchants to accept contactless wallet-based transactions.
• Frictionless Merchant Boarding An automated merchant underwriting and onboarding workflow designed to streamline and accelerate sub-merchant activation for payment facilitators and software platforms.
• PUREsight Reporting & Virtual Terminal Web-based reporting dashboard and virtual terminal that gives ISVs and merchants visibility into transactions, settlements, chargebacks, and other payment activity.
• PURE ACH ACH and eCheck processing service that allows merchants and software platforms to accept electronic bank transfer payments alongside card payments.
• EMV Payment Acceptance EMV chip-card acceptance capability, enabling merchants to process chip-based credit and debit card transactions on certified terminals and integrations.

Quantifiable outcome

• Merchant approval rate of 98%
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature9 records

Partnerships

Three partnerships are on record, tiered core.

• Westamerica BankcorporationcoreOthersBlue Parasol Group, LLC, d/b/a Paragon Payment Solutions is an ISO (Independent Sales Organization) and Sales Agent (SP) of Westamerica Bankcorporation. Westamerica Bankcorporation serves as the sponsoring bank providing the financial infrastructure, bank sponsorship, and regulatory oversight required for Paragon to operate as a payment processor and offer merchant accounts.
• Chesapeake BankcoreOthersBlue Parasol Group, LLC, d/b/a Paragon Payment Solutions is also an ISO/SP of Chesapeake Bank. Chesapeake Bank serves as an additional sponsoring bank providing the financial infrastructure and bank sponsorship for Paragon's payment processing operations.
• VerifonecoreTechnology or IntegrationParagon's PUREcloud solution features Verifone Engage payment devices. Verifone provides the POS hardware (EMV-capable, contactless devices) that is powered by Paragon's PUREcloud platform. This integration enables SaaS ISVs to offer a comprehensive line of point-of-sale devices through a single integration.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• North American Bancard: North American Bancard is a large ISO/payment processor offering integrated solutions for ISVs and merchants, with ISO/agent partnership programs that overlap Paragon's channel and ISV partnership model.
• iPay (Jack Henry): iPay, part of Jack Henry, provides integrated payment processing for community-bank and core software ecosystems — a broader-incumbent analog in embedded/ISV-style payments distribution.
• Square (Block): Block/Square offers a broad payments portfolio (Square APIs, Square SDK, hardware) that overlaps Paragon's POS and embedded payments capabilities, particularly through its developer platform and ISV integrations.

Direct peers

• Stax (formerly Fattmerchant): Stax provides integrated payment processing with subscription/usage-based pricing for ISVs and software-led businesses, competing head-to-head with Paragon's quote-based integrated payments stack for vertical SaaS.
• BlueSnap: BlueSnap delivers integrated payment processing, gateway, and subscription billing APIs for software platforms and ISVs, with global acquiring — comparable in ISV/SaaS orientation to Paragon's platform.
• Helcim: Helcim provides integrated payment processing with transparent interchange-plus pricing, APIs, and partner programs serving SMBs and ISVs — comparable in scope to Paragon's API/ISO/ISV offerings.
• Payrix: Payrix provides embedded payments and payment facilitation infrastructure tailored to software platforms and ISVs — a direct competitor in the white-label payfac-for-ISV niche that Paragon targets with PUREfac.
• Finix: Finix is a payment facilitator-as-a-service provider for software platforms, enabling ISVs to embed payments with underwriting and risk infrastructure — a close functional analog to Paragon's PUREfac managed payfac offering.
• Stripe: Stripe's Connect and payments APIs serve software platforms and ISVs with embedded payment processing, terminal hardware, and developer-first onboarding — directly comparable to Paragon's PURE platform and developer portal model.

Others

• Paya Holdings: Paya is Paragon's publicly traded parent company (NASDAQ: PAYA) and shares much of the same ISV-integrated payments DNA; while not a competitive peer, it provides direct strategic and operational context as the parent entity.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ParagonPaymentSolutions

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paragon Payment Solutions